Binance.US has appointed Stephen Gregory as chief executive officer, replacing Norman Reed, who will remain as a senior adviser.

The hire places a lawyer and compliance specialist at the helm of an exchange still navigating the fallout from its parent company's 2023 criminal settlement with the U.S. Department of Justice.

Gregory previously served as U.S. CEO of Currency.com, leading the firm through its 2025 acquisition by CXNEST, and held compliance leadership roles at Gemini and CEX.io.

What Happened

Binance.US said Gregory will oversee expansion of its product suite, including a broader "Earn" offering, staking services, and new DeFi gateways.

The platform also relaunched fiat banking access in 2024 after suspending dollar services the prior year under regulatory pressure.

It currently contributes roughly 3.2% of its parent company's global trading volume, according to CoinLaw data.

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Why It Matters

The appointment is Binance.US's fifth CEO since the platform launched in 2019. The parent company, Binance, agreed in November 2023 to a $4.5 billion DOJ settlement after pleading guilty to anti-money laundering violations.

Founder Changpeng Zhao served a four-month federal prison sentence and was subsequently pardoned by President Trump.

Under the DOJ agreement, Zhao is prohibited from managing or operating Binance for three years.

The press release's description of Zhao as someone who "continuously advocated to make the U.S. the crypto capital of the world" does not disclose that restriction.

In February, nine U.S. Senate Democrats wrote to the Treasury and Justice departments requesting an investigation into Binance's illicit finance controls. Gregory's compliance background appears calibrated to that environment, though broader legal exposure of the Binance group remains unresolved.

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